Barclays has hired the former head of electronic trading for Asia at Deutsche Bank, the latest in a flurry of moves among senior e-trading practitioners in the region.

Greg Lee, most recently head of Autobahn equity Asia at Deutsche Bank, is to join Barclays in Hong Kong later this year, according to two people familiar with the situation. He will join as the UK bank's head of electronic trading for Asia, with responsibility for sales and product regionally, one person said.

Lee had been asked to be the head of product for Autobahn, Deutsche Bank's electronic platform, in New York, but wanted to remain in Hong Kong, the people said.

Barclays and Deutsche Bank declined to comment.

Lee joined Deutsche Bank from UBS in 2009 and before that worked at Reuters for over three years.

His is the second Barclays hire in e-trading to emerge today. This morning, the bank announced that it had appointed Dan Miller as head of equities sales trading for Hong Kong, China and Asean. Miller was most recently at BNP Paribas Securities Asia where he worked as global head of execution sales, Asia Pacific. He will be responsible for managing and developing Barclays’ low and high touch execution capability, the bank's said in a statement.

Earlier this month, Barclays announced a wide-ranging restructure of its investment bank, which will see it cut around 7,000, or a quarter, of jobs in the unit by 2016. Barclays said it would create a "bad-bank" division consisting of £115 billion of risk-weighted assets, which will include all its European retail-banking assets and some parts of the investment bank. This included mainly non-standard fixed-income derivatives, some commodities and emerging markets products, rather than equities, Barclays said.

Antony Jenkins, Barclays' chief executive, said "we will be a focused international bank, operating only in areas where we have capability, scale and competitive advantage".

Related

Lee's hire is the latest in a number of high-profile moves among Asia e-trading practitioners in recent months.

JP Morgan hired Shuya Kekke, previously co-head of electronic trading for Asia Pacific at Goldman Sachs, as its head of sales for electronic client solutions and program trading, Asia Pacific, last October.

In March the US bank hired Stuart Baden Powell, most recently head of European, Asian and Australian market structure, regulation and government affairs at RBC Capital Markets, as a director in its electronic trading business in Asia. Ed Duggan was also relocated from London to Hong Kong this year to lead equities electronic trading sales in Asia for JP Morgan.